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The Ethena price has soared 7% in the last 24 hours to trade at $1.14 as of 3:15 a.m. EST on a 170% pump in trading volume to $1.19 billion.
The surge in the ENA price comes after the protocol announced a strategic partnership with World Liberty Financial, a Donald Trump-backed firm.
JUST IN: Ethena Labs partners with Donald Trump backed World Liberty Financial 🚀pic.twitter.com/xFs0pyJHFM
— Crypto India (@CryptooIndia) December 18, 2024
This collaboration will integrate Ethena’s sUSDe token, a staked version of its USDe “synthetic dollar,” into World Liberty Financial’s Aave instance.
This move enables users to deposit USDe and earn dual rewards in sUSDe and the native WLF token, reflecting Ethena’s growing influence in the DeFi ecosystem and its drive to enhance the utility of its synthetic dollar framework.
Ethena Price Spikes Along The Parabolic Curve Line
The ENA/USD daily chart shows a strong bullish trend, marked by significant price movements and key technical signals. ENA is currently trading at $1.1353, reflecting a 5.31% daily increase.
The price has established a solid support zone near $0.40, where it consolidated before beginning its rally. On the upper side, resistance is evident near $1.20, as the price briefly tested this level before pulling back slightly.
ENAUASD Analysis Source: Tradingview
A clear parabolic curve indicates accelerated upward momentum, highlighting the potential for continued gains unless the price breaks below key support levels.
The 50-day moving average (MA), currently at $0.73, crossed above the 200-day MA (at $0.49) in mid-November, forming a Golden Cross that signals a robust bullish trend. Both moving averages are sloping upward, adding further strength to the upward trajectory.
The Relative Strength Index (RSI) is at 62.78, retreating slightly from the overbought zone (69.08). This suggests the bullish momentum remains strong, but some cooling off is underway. A minor pullback toward the $1.05-$1.10 range could occur before the next upward move. Increased trading volume aligns with this rally, reflecting strong buyer interest.
If ENA holds above $1.10 and the RSI stabilizes, the price could retest its recent high of $1.20 and potentially break out toward $1.30. Conversely, a break below the parabolic curve and 50-day MA near $0.73 could invalidate the bullish outlook, triggering a correction toward the $0.50-$0.60 range.
Crypto All-Stars Closes On $24 Million – Less Than 22 Hours Left!
While the Ethena price gears up for more bullish momentum, investors are rushing to buy Crypto All-Stars (STARS), a groundbreaking meme coin staking project.
The presale has quickly gained traction, raising over $23.6 million, making it one of the most successful launches of the year.
According to ClayBro, a prominent YouTuber with over 134K subscribers, STARS could potentially achieve a 10X increase in value post-launch, which is scheduled for early next week.
Crypto All-Stars comes with an innovative MemeVault staking platform that enables users to stake multiple top-tier meme coins, such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), in one place for the first time.
The platform also supports other trending meme coins like FLOKI, BRETT, LADYS, COQ, TURBO, TOSHI, BONK, and MOG, and pays rewards in STARS. More top meme coins will be added to the platform after launch.
STARS can already be staked and offers a huge 148% annual yield.
The All-Stars ride to their launch in style 😉 Want to ride along?
Get your $STARS before it's too late: https://t.co/8IZTKBdAp2 pic.twitter.com/9iOZEbkRIx
— Crypto All-Stars (@all_stars_coin) December 15, 2024
Currently priced at $0.0016782, STARS can be purchased using ETH, USDT, BNB, several meme coins, and bank cards.
The STARS presale concludes in less than 22 hours, with its launch expected early next week.
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